Zebra Capital Management LLC Trims Position in Pilgrim’s Pride Co. (PPC)

Zebra Capital Management LLC lessened its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 21.2% during the 2nd quarter, Holdings Channel reports. The firm owned 38,362 shares of the company’s stock after selling 10,311 shares during the period. Zebra Capital Management LLC’s holdings in Pilgrim’s Pride were worth $772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PPC. Clarus Wealth Advisors bought a new stake in Pilgrim’s Pride in the second quarter worth $161,000. Cerebellum GP LLC bought a new stake in Pilgrim’s Pride in the second quarter worth $168,000. Tiverton Asset Management LLC bought a new stake in Pilgrim’s Pride in the first quarter worth $173,000. Advisors Preferred LLC increased its position in Pilgrim’s Pride by 112.1% in the second quarter. Advisors Preferred LLC now owns 8,571 shares of the company’s stock worth $173,000 after purchasing an additional 4,530 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Pilgrim’s Pride by 129.2% in the second quarter. SG Americas Securities LLC now owns 8,673 shares of the company’s stock worth $175,000 after purchasing an additional 38,405 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

PPC stock opened at $18.94 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.01 and a debt-to-equity ratio of 1.26. Pilgrim’s Pride Co. has a twelve month low of $16.30 and a twelve month high of $38.39. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 6.55 and a beta of 0.01.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.43). Pilgrim’s Pride had a net margin of 5.33% and a return on equity of 34.12%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm earned $0.92 EPS. The company’s revenue was up 3.1% on a year-over-year basis. analysts anticipate that Pilgrim’s Pride Co. will post 1.96 EPS for the current fiscal year.

Several equities research analysts recently weighed in on PPC shares. BidaskClub upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 18th. Zacks Investment Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Monday, July 16th. ValuEngine cut shares of Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Barclays started coverage on shares of Pilgrim’s Pride in a research report on Monday, July 16th. They set an “overweight” rating and a $27.00 price objective on the stock. Finally, Mizuho set a $27.00 price objective on shares of Pilgrim’s Pride and gave the company a “buy” rating in a research report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.67.

In other news, Director Michael L. Cooper acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $43,400.00. Following the completion of the transaction, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $134,904.56. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 78.81% of the company’s stock.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

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